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Accelerating digital transformation
In the past decade, the automotive industry has been disrupted by technological advances like electric vehicles and autonomous driving; by pollution control efforts such as emissions standards and cleaner fuels; by the shared economy in which consumers buy and sell cars based on their needs rather than ownership; and by digital-only auto vendors who deliver cars directly to customers. To succeed in 2022, automotive companies must invest in tools and technology that
continue to meet consumer needs while ensuring service technicians are properly trained.
The popularity of buying a car online has increased in the past year, as more consumers turn to the internet following the temporary closures of dealerships. Almost 60 percent of potential buyers under 45 prefer to buy their vehicles online; this is more than double the percentage who prefer to do so in person. The automotive industry has been transformed by digital technology, from vehicles to aftermarket parts and services. Embracing digital technology is critical for the
automotive sector’s future success: it must reimagine the consumer engagement model to gain traction in a world of decentralization and digital-first engagements. It must discover more about how digital technology can be used in the automobile industry to improve stakeholder experiences.